1. The debtor may borrow or obtain banking facilities with or without guarantee, in accordance with what is stated in the application for the initiation of proceedings or in any application submitted to the Bankruptcy Department after submitting the application for initiation of the proceedings and before a decision is issued thereon. 2. The debtor may borrow or obtain banking facilities after the issuance of the decision to initiate the proceedings, if the same is stipulated in the proposal or approved by the required majority, unless the Bankruptcy Court decides otherwise. It shall notify the lender or the entity granting banking facilities that it is subject to preventive settlement proceedings in accordance with this Law. 3. The Bankruptcy Court may, upon the debtor's request, and after taking the opinion of the Unit, where the debtor is supervised by the regulatory authority, authorize the debtor subject to preventive settlement proceedings to obtain new financing, whereby the creditor has priority over any existing ordinary debt owed by the debtor on the date of the decision to initiate the proceedings, as long as this financing is necessary for the debtor's business and does not cause damage the common interest of the creditors or the preventive settlement proceedings. 4. The new financing may be secured by a mortgage arrangement on any of the debtor's unmortgaged or mortgaged property, in which latter case, the mortgage shall come in the following rank to the mortgage or mortgages resulting from the property to be mortgaged. 5. The new financing may be secured by a mortgage arrangement on any of the debtor's mortgaged property that is equal in rank to any existing mortgage on or ahead of the property to be mortgaged. In this case, the approval of the previous-ranked mortgaged creditors shall be obtained.
Interpretation and application must be checked against the official text and current version.